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Basics Business Plan Stephanie Landree


Vision Statement   Our vision is to enhance the wardrobe and appearance of our clients and enrich and entertain our community. Being the “best” means providing outstanding quality and customer service, while adding to life’s enjoyment.


Mission  Statement   Our mission is to give each customer an experience they will never forget. Offering high quality menswear with a fun, exciting environment. We believe in outstanding customer service; making sure every appointment is an unforgettable, stimulating experience. Most of all we want our customers to feel relaxed and satisfied.


Concept Statement   Walking into Basics, people will understand exactly what the store is about. Black leather couches and chairs, flat screen TV’s on every wall, surround sounds, tables with drinks on them, and high quality clothing scattered throughout the floor plan. Basics is about making it a comfortable shopping experience for men, with the best stylists on location. Sit back, watch the game, and have a drink if desired. Our stylist will take care of your every fashion need with a large assortment of both casual and dress apparel.


Company Basics will strictly cater to men’s need of style and fashion. The key business of the store is apparel, both casual and dress. Our apparel is timeless and simple. It is easy and comfortable to wear, it also transitions well into all seasons. Our store is so special because our stylists do most of the work while the customer sits back and relaxes.


Culture We believe you should be able to enjoy the little things in life. Our stylists are educated in fashion and are very informed on all brands and product information in the store. The working environment is exciting and laid back. Conversations throughout the store are usually about sports, beer, or the clothing.


Appendix A

Customer Profile Geographic's Region: Chicago, Illinois City Size: 2.7 million Urban/Rural: Urban Climate: Moderate Demographics Age: 24-40 Sex: Male Family: Independent, single Income: $65,000+ Education: College Graduate Occupation: professional, marketing Religion: none Ethnic Background: Caucasian Consumer Behavior Benefits Desired: Styling and high quality apparel Usage Rate: Once every 2 months

Psychographics Social Class: High middle class to upper class Personality: Outgoing, funny, motivated Lifestyle: Chicago sporting events, bar hoping, bachelor, traveler Benefits Sought: Style, quality Attitude: Neutral Behavioral Brand Loyalty: Moderate Store Loyalty: Very Loyal User Status: Current Payment Method: American Express, credit card Usage Situation: Everyday, work, dating, guys night out


Competition Our company competes closely with Haberdash, a Chicago men’s clothing store that accompanies high quality clothes with a blend of cool classic style and bit of old school. Trunk Club is an ecommerce competitor with educated stylists. Since both companies work out of Chicago and either have a brick and mortar location or strictly online; we will have both an on site location and online. While Haberdash offers both casual and suit wear, we will offer more casual and dress basics that will never go out of style. While Trunk Club is a fast and easy way to shop, we will offer amazing stylists that will get to know the clients on a personal level, face to face and an inviting atmosphere for men.


Branding

Basics


DĂŠcor and Visuals


Lighting


Appendix B

Merchandise Assortment >  Knit  Sweater   $79-­‐149   >  Casual  Bu<on-­‐ downs  $59-­‐79   >  Dress  Bu<on-­‐ downs  $79-­‐99   >  Cardigans   $59-­‐79     >  Basic  Tee   $29-­‐49  


> Jeans  $99-­‐169   >  Dress  pants   $89-­‐129   >  Jackets  $149-­‐299   >  Coats  $159-­‐299   >  Scarves  $39-­‐69  


> Dress  Shoes   $139-­‐269   >  Casual  Shoes   $79-­‐129   >  Boots  $129-­‐199   >  Belts  $39-­‐69   >  Socks  $10   >  Ties  $29-­‐69  


Store Location

After extensive research we have decided to put our store in a prime location for men’s fashion: Chicago, Illinois in the classy Gold Coast neighborhood. We have found this area to house most of our targeted demographic and not to mention major luxury brands. We have decided on the crossroads of Rush Street and Delaware Place. DIMENSIONS The location we found is 1600 sq. feet on the ground level

LOCATION OF ENTRANCES/EXITS The customers and employees enter and exit from the front of the store. An additional entrance is located at the back storage room, for shipment.

DIMENSIONS SEPARATE SPACES

Majority of the space will be used for the selling floor. Only about 450 sp feet will be used for storage room, restroom, and management office.

LOCATIONS OF WINDOWS The only windows within the space are the front windows on both side of the entrance.

SHAPE OF STORE TERMS OF LEASE We have decided on a 2 year lease so we have time to build a reputation in the neighborhood and client base.

MONTHLY RENT The rent of the location is $4,400 a month. We will be paying $2.75 per square foot.

The location we have picked is a simple rectangle shape.

COMMON AREA FEES All maintenance and utility fees are an extra $75 a month. Any marketing or promotional activity will be paid with store’s funds


Planagram  


E-­‐Business  Basics’  fashion  blog  will   resemble  the  store’s   atmosphere.  The  blog   will  display  photos  of   different  ouSits  our   stylists  come  up  with.  A   day  in  the  life  wearing   Basics’  clothing.  The   blog  will  also  promote   new  bars  and   restaurants  in  town.    


E-­‐Business  Basics’  webpage  will   resemble  the  store  and   give  informaUon  such  as   store  hours  and   background   informaUon.  There  will   also  be  a  tab  where   viewers  can  make   appointments  with  the   stylists.    


E-­‐Business  Basics’  twi<er  page  will   follow  men  that  wear   our  clothing  and  tweet   about  new  collecUons   that  are  in  the  store.   The  twi<er  page  will   have  a  lot  of  interacUon   with  the  followers.    


Promo.ons and  Events   •   Monthly  Beer  tasUngs    

•  Newsle<ers  distributed   monthly   •   Team  up  with  Chicago   sports  team  to  promote   brand.     •   Team  up  with  local  bars   and  restaurants,  to  give   customers  service   discounts.   • Hold  parUes  throughout   the  year  at  partnering  bars.      


AdverUsing Goals:    

For  Basics  to  be  the  store  that  a  typical   male  wants  to  hang  out  at.  The   atmosphere  will  feel  like  a  modern   sports  bar.    

Strategies:  

AdverUsing  for  Basics  will  mostly  be   through  word  of  mouth.  Our  name  will   also  be  featured  at  local  bars  and   sporUng  events.    

Budget:  

25  percent  of  our  budget  will  be   devoted  to  adverUsing  for  the  first  few   months  of  opening  and  then  it  will  drop   to  10  percent.    


MarkeUng and  Public  RelaUons   •  Monthly  newsle<er   •  Email  blasts   •  Flyers  at  partnered   businesses   •  AdverUsements  in  local   newspapers     •  AdverUsements  on   Facebook     •  Press  release    


Management Style   Store  Manager  

Asst. Manager  

Key holder  

Associates

Evaluates performance   Inventory  

Merchandising Styling  

Inventory

PromoUng

Assist selling  

MoUvates

Hires Helps  up  sell   employees  

Providing top  service  

Financials

Creates schedules  

Training

Up Keep  merchandise  

AccounUng

Training

Clientele

Clientele

Oversees all  store   funcUons  

RecruiUng

Returns

Welcoming customers  

Tracks goals   Basics  will  have  an  administraUve  style.  We  want  input  from  all   employees,  as  well  as  respect  across  the  board.    


Stylist ResponsibiliUes     •  Build  a  relaUonship  with  each   customer  that  walks  through  the   door   •  Maintain  knowledge  of  all   products   •  Maintain  records  of  client   appointments  and  sales   •  Maintain  store  (cleaning)   •  Aid  in  UckeUng  and  visuals   •  Package  purchases  and  wrap  gies   •  Hand  wriUng  thank  you  le<ers   everyday   •  Maintaining  relaUonship  aeer   sale   •  Shipment  


Associate Week  1  

Week 2   Week  3   Week  4  

Total

Gina

$2,500

$3,125

$3,250

$3,375

$12,250

Dana

$2,375

$2,475

$2,575

$2,750

$10,175

Nathan  

$2,000

$2,075

$2,250

$2,375

$8,700

Robert

$2,375

$2,500

$2,575

$2,750

$10,200

Totals by   $9,250   Week   Month   Store   Goal  

$10,175 $10,650   $11,250   $41,325   $45,000  

Stylist Goals     Stylists  will  have  set  sales  goals  based  on  the  amount  of  hours  they  work   that  parUcular  day.  The  more  experienced  stylist,    the  higher  goals.   Managers  will  not  have  set  goals  each  day,  but  they  can  sUll  sell  and  form   relaUonships  with  clients.    


OrganizaUonal Management  Structure  

Store Manager  

Asst. Manager    

Key Holder  

Stylist


Ethics &  Loss  PrevenUon   Ethics      Basics  maintains  a  high  standard  of  

business ethics  and  regard  for  human   rights.  We  require  our  suppliers  to   have  a  sound  business  ethic  as  well.   We  have  established  such  guidelines   in  order  to  feel  good  about  out  high   quality  merchandise.    

Loss Preven.on   •  •  •  •  • 

Inventory counts   Employee  must  be  on  the  floor  at  all   Umes   Store  Alarms     All  employees  must  be  walked  to  the   door  and  bag  checked     All  merchandise  censored    


Employee Benefits    Full-­‐Ume  employees  are  allowed  5  personal  days  and  a  week  of  paid   vacaUon.  Full-­‐Ume  staff  will  receive  a  low-­‐deducUble  Open  Access  Plan   (OPA),  eye  and  dental  insurance.  Part  Ume  employees  must  request  Ume   off  2  weeks  prior  to  the  date.  It  is  important  for  all  staff  to  arrive  on  Ume.   If  there  is  a  no  call,  no  show  the  employee  will  be  wri<en  up.  Basics   employees  receive  50%  off  in  store  merchandise.  Employees  with   highest  volume  and  highest  percentage  over  sale  goals  will  receive  gie   cards  to  the  store.    


Dress Code   Employees  must  always  look  polished  and  professional.  It  is  important  that   our  stylists  to  keep  up  with  the  latest  styles  and  trends  for  customer   knowledge.  Stylists  must  blend  well  with  the  décor  and  merchandise,   therefore  wearing  all  black  is  best.  Makeup,  hair,  and  nails  must  be  natural   looking  at  all  Umes.       The  LiCle  Black  Book   All  employees  will  be  giving  a   handbook  when  they  first   start.  The  handbook  will   include  training  worksheets   and  all  of  human  resource   paperwork  that  must  be   signed  and  completed.  In   addiUon  employees  will  also   be  given  an  agenda  to  keep   track  of  client  informaUon  and   sales  goals.    


Weekly Schedule     Name  

Mon. Tues.   Wed.   Thurs.   Fri.  

Stephanie   Landree  

Sat. Sun.   Total  

9-­‐5

1-­‐cl

Off

1-­‐cl

Off

9-­‐5

9-­‐5

40

Sco< PelleUer   1-­‐cl  

Off

9-­‐5

9-­‐5

1-­‐cl 11-­‐7   Off  

40

Megan Bass  

Off

9-­‐5

1-­‐cl

Off

9-­‐5

1-­‐8

40

Gina   McQuesUon  

9-­‐4

2-­‐cl

Off

1-­‐cl

3-­‐cl 12-­‐7   Off  

33

Dana May  

11-­‐5

Off

9-­‐4

9-­‐5

Off

Nathan Roy  

Off

9-­‐5

3-­‐cl

Off

11-­‐6 9-­‐5  

Robert Kane  

2-­‐cl

12-­‐6 12-­‐6  

Off

9-­‐4

1-­‐cl

1-­‐cl 4-­‐cl   30.5   9-­‐4  

32

Off 12-­‐5  

29

WEEK OF     Jan  13-­‐19th   Payments  will  be  bi-­‐weekly.  Managers  will  be  on  a  salary,  and   stylists  will  be  starUng  at  $12/hr.  We  will  start  by  having  4  main   stylists.    


Merchandise ClassificaUon   Jan   Feb   Mar   April   May   June   July   Aug   Sept   Oct   Nov   Dec   Total   Tops  

6% 7%   8%  

8%

8%

8%

7% 7%  

BoComs

6% 4%   7%  

8%

8%

9%

9% 12%   10%   7%  

Outerwear 9%   2%   3%  

5%

3%

1%

1% 5%  

10% 16%   20%   23%   15%  

Accessories 8%   8%   7%  

8%

8%

7%

8% 7%  

8%

5% 3%   10%   6%  

6%

4%

3% 13%   17%   9%  

Shoes

9%

At Basics  our  tops  will  bring  in  the  highest   predicted  volume.  Above  is  a  break  down   each  category  percentage  wise  by  month   and  the  total  yearly  percent.      

8%

9%

11% 13%   40%   8%  

12% 25%  

13% 11%   5%   10%   14%   15%  


Monthly Sales  Plan   Appendix  D

Class

Week 1  

Week 2  

Week 3  

Week 4  

Total

Tops

$3,700

$4,070

$4,260

$4,500

$16,530

BoComs

$2,313

$2,544

$2,663

$2,813

$10,333

Outerwear $1,388  

$1,526

$1,598

$1,688

$6,200

Accessories $463  

$509

$533

$563

$2,068

Shoes

$1,388

$1,526

$1,598

$1,688

$6,200

Total

$9,252

$10,175 $10,650   $11,250   $41,331  

Above is  a  week  by  week  sales  goal  of   each  category.  Basics  needs  to  be   meeUng  a  goal  of  $41,330  each  month   to  be  on  track  for  our  year  goal.    


Sales Plan  by  Category   Appendix  C  conUnued   Categories  

% Total  Sales  

Dollar Amount  

Tops

40%

$198,389

BoComs

25%

$123,993

Outerwear

15%

$74,396

Accessories  

5%

$24,799

Shoes

15%

$74,396

Total Year   Amount  

$495,972

A rough  revenue  esUmate  of  where  Basics  will   be  at  the  end  of  the  fiscal  year  is  about   $496,000.  That  is  if  all  categories  meet  their   percentage  to  goal  standards.    


Service Levels   Basics  will  be  open  10am  to  9pm  Monday   through  Saturday  and  10am  to  7pm  on   Sunday.  There  will  be  cameras   throughout  the  store  to  prevent  thee.     Basics  prides  themselves  on  customer   service.  We  want  each  customer  to  feel   like  they  have  a  private  appointment  with   their  stylist.  Each  stylist  will  build  a   relaUonship  with  every  customer  that   walks  through  the  door.  Clienteling  is  a   huge  opportunity  for  the  store  that  will   not  be  forgo<en.  Every  client  will  expect   to  get  mulUple  thank  you  le<ers  from   their  stylist  throughout  the  year.  Once   relaUonships  are  built,  appointments  will   be  made.  Expect  only  the  best  from   Basics.    

Basics Business Plan  

A fictional retail store's business plan and strategy

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